UK: Only 10% chance of Allied bid - analysts
Cazenove has lowered its rating on Allied Domecq to "underperform" from "in-line" yesterday.
The stockbroker estimated that there was less than a 10% chance of a bid for the UK wine and spirts group.
Cazenove believes a serious offer for Allied would need to be around US$17 billion.
"We have no doubt that the board of Allied would be open to an offer which included an appropriate strategic premium; but we do not see the supposed bidders having the financial power or commitment to pursue such a course," Cazenove said in a research note.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Cautious optimism is probably the best way to describe today's press reaction to Pernod's friendly bid for Allied Domecq....
Spirits firm Allied Domecq has agreed to a takeover bid from smaller rival Pernod Ricard, subject to agreement from Allied shareholders....
Allied Domecq last night accepted Pernod Ricard's offer to buy the UK-based drinks giant....
Allied Domecq today delivered a 7% increase in first half group profits before tax to £285m. Earnings per share were up 7% to 19.2p, turnover that was flat at £1,700m....
Drinks producer and distributor Todhunter International has said that its controlling shareholder, CL Financial, is interested in acquiring some of the brands of Allied Domecq that may become availabl...
Pernod Ricard has had its rating raised....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
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